IT Export Remittances Surge to $887 Million

Federal Secretary Ministry of IT and Telecommunication Shoaib Ahmad Siddiqui has directed the management of Pakistan Software Export Board (PSEB) to devise a comprehensive marketing plan and prepare a strategy to accelerate the growth of Pakistan’s IT sector.

The Federal Secretary IT was chairing a meeting to review efforts for enhancing Pakistan’s IT industry exports on Monday. The meeting was held through video conference and attended by officers of Ministry of IT and PSEB.

He also emphasized the need of providing IT companies the opportunities for international business solicitation and enhance efforts to locate opportunities in North America and Europe.

Earlier, PSEB Managing Director, Syed Ali Abbas Hasani, in his briefing stated that Pakistan’s IT & IT-enabled Services (ITeS) export remittances, including telecommunication, computer and information services, have surged to $887.470 million, showing a growth rate of 26.24 percent during the first eight months of the fiscal year 2019-2020 as compared to $702.990 million during the same period last year.

Whereas the number of registered IT & ITeS companies have increased by a stellar 26.35%. He stated that Korean Exim Bank has principally agreed to provide funding for the establishment of a state of the IT Park in Karachi and that training in emerging technologies of 2,000 fresh IT graduates and professionals working in the industry will start from May 2020.

He said that maximum facilitation and strong incentives are being provided to the IT industry. PSEB is assisting 18 companies this year with coveted international certifications such as ISO27001, ISO20001, and CMMI Level-2 & 3. Almost ten companies have achieved certifications while the rest are in progress.

Furthermore, PSEB has facilitated nearly 70 IT companies over the past eight months to participate in numerous events and trade fairs in Canada, China Dubai, Norway, Saudi Arabia and USA.

The Secretary IT lauded the achievements of Pakistan’s IT sector noting that it is a matter of great pride that Pakistani IT companies are providing state of the art products and services to the world’s largest companies.

He said that efforts need to be made to enhance the perception of Pakistan’s IT Industry in the global arena and to ensure sustainable growth of Pakistan’s IT industry in the long term.